Portugal News

Pound Sterling (GBP) The Pound has fallen by -0.3% against the US Dollar today, in addition to trading tightly against the Euro. This disappointing performance has been caused by remarks from Bank of England (BoE) policymaker Jonathan Haskel, who will be starting work in September this year. Mr Haskel will be replacing hawkish policymaker Ian McCafferty but has been more dovish in his outlook, meaning that there may be few interest rate hikes over the coming years. Despite Mr Haskel’s approach to interest rates, Pound...

<b>Pound Sterling</b> The day’s raft of UK employment data proved more mixed than traders had hoped, as Jobless Claims Change showed a greater rise in claims for unemployment benefit and Average Weekly Earnings fell short of expectations. However, although the Pound initially turned bearish, this was counteracted by the revelation that the domestic Unemployment Rate had fallen to a fresh seven-year low of 5.3%. Coupled with a more hawkish remark from Bank of England (BoE) Governor Mark Carney, indicating that the...

Pound Sterling (GBP) The British Pound softened versus many of its currency rivals during Friday’s European session. This can be attributed to June’s Construction Output Data which failed to meet with estimates on both a monthly and a yearly basis. On the year, June’s Construction Output hit 2.6% growth; lower than the median market forecast 3.3%. On the month, Construction Output came in at 0.9% growth in June; missing the market projection of 2.0%. Euro (EUR) European economic data produced poor results on Friday which...

Pound (GBP) Tuesday has seen the publication of highly influential former official, David Blanchflower’s, most recent paper claiming that the Bank of England (BoE) are failing to acknowledge the amount of slack left in the UK economy. Bloomberg stated Blanchflower’s suggestion: ‘The Bank of England is underestimating the amount of spare capacity in the economy, and weak wage growth should allow it to maintain stimulus.’ The Pound has been trading strongly in the currency market of late; however, the last few weeks have seen...

Great British Pound (GBP)\r\n\r\nThe Pound experienced a disappointing day on Thursday with poor Trade Balance data and the lack of encouragement gained from the Bank of England with regards to interest rate hikes. Moreover the strong Pound is damaging profit margins for retailers. However, economists are predicting the Pound will reach highs of 1.74 against the US Dollar within the next two quarters. Goldman Sachs representative, Sharon Bell stated: ‘We’re likely to continue to see earnings downgrades just because Sterling has got a...

British Pound (GBP) In a quiet day by way of UK data on Monday, the Pound is currently trading lower at 1.7113 against the US Dollar after a poor performance for UK figures last week. Tuesday will be an influential day for Sterling with the UK Consumer Price Index released, along with the Core Consumer Price Index and the Producer Price Index. However, with the Pound still trading in the currency market strongly, businesses fear for their profits with more gains forecast. An expert in the field, Simon French, commented: ‘We expect...

Pound Sterling GBP/EUR – Trading in the Region of 1.1834 The Pound edged away from this week’s highs against the US Dollar and posted its most significant decline against the Euro for two-weeks as UK house prices climbed at a slower pace than forecast and UK services PMI slightly disappointed expectations. US Dollar USD/EUR – Trading in the Region of 0.7343 With the Federal shutdown preventing the publication of influential US non-farm payrolls data, the ‘Greenback’s bearish relationship with several of its most traded...

Pound Sterling GBP/EUR – Trading in the Region of 1.1617 Prior to the release of UK construction output and trade balance figures the Pound was in line to record a 5-day gain against the US Dollar and Euro. The currency could experience fluctuations in the hours ahead. US Dollar USD/EUR – Trading in the Region of 0.7475 As the week nears its end the US Dollar has lost ground against several of its most traded currency peers as the appeal of the safe-haven asset has been dented by unexpectedly strong data from China. Today’s...

Pound Sterling GBP/EUR – Trading in the Region of 1.1600 After the Bank of England published its inflation report the Pound recovered from a brief dip and surged against its main rivals. As the European session began Sterling was heading for a seven-week high against the US Dollar and trading close to a month-high against the Euro. US Dollar USD/EUR – Trading in the Region of 0.7532 With risk-appetite supported by some surprisingly good news from China the US Dollar lost ground against several of its higher-risk rivals,...

Pound Sterling GBP/EUR – Trading in the Region of 1.1524 Although Sterling was able to climb against its peers yesterday in reaction to better-than-expected UK housing and industrial production data, the British currency weakened against the US Dollar and Euro as investors speculate on the outcome of today’s Bank of England inflation report. What Governor Mark Carney has to say about interest rates could inspire significant Pound movement. US Dollar USD/EUR – Trading in the Region of 0.7532 While the US Dollar advanced on a...